Specialist self-managed superannuation fund (SMSF) insurance provider Self Super Insurance announced this week it had entered agreements to better protect art and collectable assets within a super fund.
The company said the agreements related to a leading security company and a leading art storage firm.
According to Self Super, the new rules covering investment in fine art and collectables mean that SMSF clients fall into two categories – those who purchased assets before 1 July 2011, and those who made purchases after that date.
It said those SMSFs that had items purchased after 1 July 2011 needed to arrange insurance within seven days, together with compliant storage, while those who had purchased prior to that date had until 1 July 2016 to comply with the new requirements.
The company said the agreements it had entered into with the security company and art storage firm would see discounts provided to policyholders.
